*Based on a comparison of aggregated US Merchant dispute and transaction data from 2017 to that of 2015, the year before the applicable disputes policy enhancements took effect. Some of the referenced changes expired in Q2 2018.

**Except for these disputes categories: 1. Goods/services not received. 2. Goods/services returned/canceled. 3. Redisputes. In these instances, the timeframe can extends lightly.